Analyst Consensus ?
ConsensusBuy16 ratings
Bullish1487.5%
Neutral212.5%
Bearish00.0%
Sandisk Corporation · SNDK · FY2026 Q4 · Calendar Q3 2026
SanDisk posts record Q4 as data-center demand and NBMs scale
SanDisk's record Q4 and expanding NBM coverage support the case for durable growth from AI inference and data-center demand. The countercase is that the outlook remains sensitive to pricing, margins, supply execution, and the sustainability of AI-led demand.
Reported After market closeNASDAQTechnology
$261.62B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$39.25
Consensus $34.96
EPS surprise
+12.3%
Reported versus consensus
Reported revenue
$8.96B
Consensus $8.48B
Revenue surprise
+5.7%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-6.8%
Event window
SPY move
-0.2%
Same window
Abnormal move
-6.6%
Stock minus SPY
Volume
1.2×
Versus trailing sessions
Subsequent drift
+23.6%
Up to 20 sessions
SNDKSPY benchmark
Ask FN2 about SNDK FY2026 Q4
Transcript, numbers and history already loaded
Why did SNDK fall 6.8% after beating EPS estimates in FY2026 Q4?What changed in SNDK's guidance and outlook in FY2026 Q4?Give me the bull and bear case for SNDK after FY2026 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management described a larger data-center mix, broader NBM coverage, continued product expansion through BiCS 10 and high-bandwidth flash, and additional buyback capacity. The central demand narrative remained AI and data-center growth, while the key concerns shifted toward Q1 margins, pricing contribution, and commercialization timing.
Guidance delta
Maintained: management outlined continued growth from data-center demand, NBMs, BiCS 10, QLC Stargate, and high-bandwidth flash while noting margin and pricing questions for the next quarter.
Key takeaways
- Management described record Q4 performance, with data-center demand and AI inference as major drivers.
- Data-center bits rose to 38% of the portfolio, while NBMs are projected to cover more than half of FY2027 bits.
- Management highlighted BiCS 8, BiCS 10, QLC Stargate, and high-bandwidth flash as product and technology priorities.
- Strong cash generation supports continued buybacks and reinvestment, but pricing, margins, and demand durability remain important watchpoints.
Management priorities
- Ramp production of BiCS 8 and launch BiCS 10 nodes.
- Scale the QLC Stargate platform.
- Expand NBMs with additional hyperscalers and edge customers.
- Invest in R&D for high-bandwidth flash and AI-focused memory architectures.
- Increase inventory levels to support committed NBMs.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$1,766.64Previous close
$63Low
$1,560.64Average
$3,050High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 22, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Mizuho | Outperform | Outperform | Maintain | Aug 25, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Aug 14, 2026 |
| Wedbush | Outperform | Outperform | Maintain | Aug 14, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Aug 14, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Aug 14, 2026 |
| Argus Research | Buy | Hold | Upgrade | Aug 10, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Aug 6, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 6, 2026 |
| Susquehanna | Positive | Positive | Maintain | Jul 23, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 1, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Jun 30, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jun 3, 2026 |
| Barclays | Overweight | Equal Weight | Upgrade | May 27, 2026 |
| Jefferies | Buy | Buy | Maintain | Jan 30, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jan 30, 2026 |
| Benchmark | Buy | Buy | Maintain | Jan 15, 2026 |
Named analyst price targets
Upside is calculated against the persisted previous close $1,766.64. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Mizuho Securities | Analyst unavailable | $1,875 | $1,493.12 | +6.1% | Aug 25, 2026 |
| RBC Capital | Analyst unavailable | $1,600 | $1,656.09 | -9.4% | Aug 14, 2026 |
| UBS | Analyst unavailable | $1,750 | $1,528.11 | -0.9% | Aug 14, 2026 |
| Mizuho Securities | Vijay Rakesh | $1,900 | $1,528.11 | +7.5% | Aug 14, 2026 |
| Goldman Sachs | James Schneider | $2,200 | $1,528.11 | +24.5% | Aug 13, 2026 |
| Wells Fargo | Analyst unavailable | $1,550 | $1,528.11 | -12.3% | Aug 13, 2026 |
| New Street | Analyst unavailable | $2,900 | $1,254.98 | +64.2% | Aug 10, 2026 |
| New Street | Analyst unavailable | $3,000 | $1,283.61 | +69.8% | Aug 6, 2026 |
| Jefferies | Analyst unavailable | $1,750 | $1,350.5 | -0.9% | Aug 6, 2026 |
| RBC Capital | Srini Pajjuri | $1,300 | $1,350.5 | -26.4% | Aug 6, 2026 |
| Wells Fargo | Analyst unavailable | $1,400 | $1,350.5 | -20.8% | Aug 6, 2026 |
| Evercore ISI | Analyst unavailable | $2,800 | $1,350.5 | +58.5% | Aug 6, 2026 |
| Susquehanna | Analyst unavailable | $3,050 | $1,622.81 | +72.6% | Jul 23, 2026 |
| Susquehanna | Analyst unavailable | $3,250 | $1,599.27 | +84.0% | Jul 23, 2026 |
| Wells Fargo | Analyst unavailable | $1,620 | $1,589.4 | -8.3% | Jul 22, 2026 |
| Evercore ISI | Analyst unavailable | $3,100 | $1,915.92 | +75.5% | Jul 13, 2026 |
| Bernstein | Mark Newman | $3,000 | $2,050.39 | +69.8% | Jun 29, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $2,900 | $1,611.3 | +64.2% | Jun 8, 2026 |
| Mizuho Securities | Vijay Rakesh | $2,200 | $1,559.32 | +24.5% | Jun 8, 2026 |
| Morgan Stanley | Analyst unavailable | $1,750 | $1,737 | -0.9% | Jun 3, 2026 |
| Mizuho Securities | Vijay Rakesh | $1,825 | $1,589.94 | +3.3% | May 28, 2026 |
| Barclays | Tom O'Malley | $2,300 | $1,589.55 | +30.2% | May 26, 2026 |
| Melius Research | Analyst unavailable | $2,350 | $1,307.4 | +33.0% | May 18, 2026 |
| Mizuho Securities | Analyst unavailable | $1,625 | $1,406.32 | -8.0% | May 6, 2026 |
| UBS | Analyst unavailable | $1,700 | $1,187 | -3.8% | May 4, 2026 |
| Goldman Sachs | James Schneider | $1,200 | $1,081.43 | -32.1% | May 1, 2026 |
| Mizuho Securities | Vijay Rakesh | $1,220 | $1,148.24 | -30.9% | May 1, 2026 |
| Evercore ISI | Analyst unavailable | $1,400 | $1,141 | -20.8% | May 1, 2026 |
| Raymond James | Analyst unavailable | $1,470 | $1,142.51 | -16.8% | May 1, 2026 |
| Susquehanna | Analyst unavailable | $2,000 | $1,096.51 | +13.2% | May 1, 2026 |
| Barclays | Tom O'Malley | $1,200 | $1,096.51 | -32.1% | May 1, 2026 |
| Jefferies | Analyst unavailable | $1,400 | $1,096.51 | -20.8% | May 1, 2026 |
| Wedbush | Matt Bryson | $1,200 | $1,002.35 | -32.1% | Apr 29, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $1,400 | $989.9 | -20.8% | Apr 27, 2026 |
| Morgan Stanley | Analyst unavailable | $1,100 | $989.9 | -37.7% | Apr 27, 2026 |
| Wells Fargo | Aaron Rakers | $975 | $920.99 | -44.8% | Apr 20, 2026 |
| Evercore ISI | Analyst unavailable | $1,200 | $952.5 | -32.1% | Apr 13, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $1,000 | $851.57 | -43.4% | Apr 9, 2026 |
| Bernstein | Analyst unavailable | $1,250 | $851.57 | -29.2% | Apr 9, 2026 |
| UBS | Analyst unavailable | $1,000 | $652.79 | -43.4% | Feb 2, 2026 |
| Barclays | Tom O'Malley | $750 | $576.25 | -57.5% | Feb 2, 2026 |
| Bernstein | Analyst unavailable | $1,000 | $539.3 | -43.4% | Jan 30, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $800 | $539.3 | -54.7% | Jan 30, 2026 |
| Morgan Stanley | Joseph Moore | $690 | $539.3 | -60.9% | Jan 30, 2026 |
| Jefferies | Blayne Curtis | $700 | $539.3 | -60.4% | Jan 30, 2026 |
| Mizuho Securities | Analyst unavailable | $710 | $539.3 | -59.8% | Jan 30, 2026 |
| Goldman Sachs | James Schneider | $700 | $539.3 | -60.4% | Jan 30, 2026 |
| RBC Capital | Srini Pajjuri | $650 | $539.3 | -63.2% | Jan 30, 2026 |
| Raymond James | Melissa Fairbanks | $725 | $539.3 | -59.0% | Jan 30, 2026 |
| Mizuho Securities | Analyst unavailable | $600 | $470.8 | -66.0% | Jan 27, 2026 |
| Morgan Stanley | Joseph Moore | $483 | $473.83 | -72.7% | Jan 26, 2026 |
| Benchmark Co. | Analyst unavailable | $450 | $414.5 | -74.5% | Jan 15, 2026 |
| Barclays | Tom O'Malley | $385 | $387.81 | -78.2% | Jan 15, 2026 |
| Wells Fargo | Analyst unavailable | $380 | $387.81 | -78.5% | Jan 15, 2026 |
| RBC Capital | Analyst unavailable | $400 | $387.81 | -77.4% | Jan 14, 2026 |
| UBS | Analyst unavailable | $580 | $387.58 | -67.2% | Jan 14, 2026 |
| Bernstein | Analyst unavailable | $580 | $389.81 | -67.2% | Jan 14, 2026 |
| Goldman Sachs | James Schneider | $320 | $352.75 | -81.9% | Jan 9, 2026 |
| Mizuho Securities | Analyst unavailable | $410 | $334.54 | -76.8% | Jan 9, 2026 |
| Morgan Stanley | Analyst unavailable | $273 | $200.27 | -84.5% | Nov 24, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $300 | $225 | -83.0% | Nov 7, 2025 |
| UBS | Joseph Moore | $230 | $199.33 | -87.0% | Nov 3, 2025 |
| Morgan Stanley | Joseph Moore | $230 | $199.33 | -87.0% | Nov 3, 2025 |
| Wedbush | Analyst unavailable | $220 | $204.36 | -87.5% | Oct 29, 2025 |
| Mizuho Securities | Vijay Rakesh | $215 | $169.17 | -87.8% | Oct 28, 2025 |
| Mizuho Securities | Analyst unavailable | $180 | $144.27 | -89.8% | Oct 17, 2025 |
| Wells Fargo | Analyst unavailable | $115 | $116.91 | -93.5% | Oct 13, 2025 |
| Goldman Sachs | James Schneider | $55 | $46.95 | -96.9% | Jul 10, 2025 |
| Arete Research | Nam Hyung Kim | $63 | $41.82 | -96.4% | Jun 9, 2025 |
| Susquehanna | Analyst unavailable | $70 | $47.67 | -96.0% | Apr 2, 2025 |
| Wedbush | Analyst unavailable | $80 | $52.99 | -95.5% | Mar 24, 2025 |
| Mizuho Securities | Vijay Rakesh | $60 | $51 | -96.6% | Mar 10, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $60 | $51 | -96.6% | Mar 7, 2025 |
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Start freeCompany context
Snapshot as of publicationSanDisk Corporation specializes in designing, manufacturing, and supplying storage solutions and devices leveraging advanced NAND flash technology. Its diverse product line features solid-state drives (SSDs), embedded memory solutions, removable memory cards, universal serial bus (USB) devices, and underlying wafers and components. Founded on June 1, 1988, the company maintains its principal executive offices in Milpitas, California.
Historical context
All SNDK earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
| SAIL SailPoint, Inc. | FY2027 Q2 · Calendar Q3 2026 | +13.8% | -1.2% | SailPoint pairs 25% ARR growth with accelerating AI-driven adoption |
| CIEN Ciena Corporation | FY2026 Q3 · Calendar Q3 2026 | +22.0% | -10.4% | Ciena raises outlook as AI networking demand lifts backlog |
| DOCU DocuSign, Inc. | FY2027 Q2 · Calendar Q3 2026 | +6.4% | +3.7% | DocuSign Q2 FY27: IAM momentum supports a raised outlook |
| IOT Samsara Inc. | FY2027 Q2 · Calendar Q3 2026 | +25.0% | +3.7% | Samsara: AI adoption expands as FY27 guidance holds |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
Get the SNDK recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-07T20:16:16.327108+00:00
- FN2 earnings calendar · 2026-09-10T01:23:13.706414+00:00
- Polygon adjusted daily market bars · 2026-09-22T08:20:52.686997+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-22T08:20:52.683821+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.